Amtel raises €46 million credit with Moscow banks

Moscow – Amtel-Vredestein NV said its subsidiary, OJSC Amtel-Vredestein, along with CJSC Moscow Tyre Plant-M, has secured three lines of credit totaling rouble 1600 million (€46 million)) with Sberbank to finance costs associated with its acquisition of the Moscow Tyre Plant — including the refinancing and restructuring of the factory’s debts.

The first credit line of 1.25 billion RUR (€36 million) will be opened for OJSC Amtel-Vredestein for a period of 7 years. It will be used to finalise the 100% acquisition of CJSC Moscow…

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